In the past various forms of ice coolers have been provided for beer kegs and other beverage containers such as ponies, quarter barrel, half barrel, tappers and the like. Conventionally kegs or barrels have been cooled in washtubs or like rigid, floored containers that are heavy, awkward to transport and expensive. Other cooler constructions to encase a keg or barrel in ice have generally utilized a bottom floor and side wall within which the keg is fitted and ice pockets have been provided around the side of the keg. Such coolers have had limited success as alternatives to the bathtub concept of beverage cooling by immersion in an ice-filled container. For example, U.S. Pat. Nos. 3,443,397 and 3,614,875 disclose beer keg coolers utilizing a flexible double-liner bucket encasing the bottom and side of the keg, and providing no arrangement for disposing of water produced by ice melt. U.S. Pat. No. 4,514,993 discloses a keg encircling sleeve with a series of pockets to receive so-called "blue ice" bags that are pre-frozen, but discloses no arrangement for securing the sleeve to the keg so that it can be easily moved. Such prior art coolers of varying construction have been fairly complex structures and have not received wide-spread acceptance.